UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 271,088 Shares of Consolidated Edison, Inc. (NYSE:ED)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,820,449 shares of the utilities provider's stock after purchasing an additional 271,088 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.39% of Consolidated Edison worth $430,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock worth $3,788,319,000 after purchasing an additional 488,752 shares in the last quarter. Geode Capital Management LLC raised its holdings in Consolidated Edison by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock worth $799,684,000 after purchasing an additional 130,234 shares in the last quarter. Norges Bank bought a new stake in Consolidated Edison during the fourth quarter worth approximately $399,824,000. Northern Trust Corp raised its holdings in Consolidated Edison by 10.2% during the fourth quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock worth $375,458,000 after purchasing an additional 390,708 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Consolidated Edison by 27.9% during the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after purchasing an additional 812,885 shares in the last quarter. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

ED has been the topic of several recent analyst reports. Guggenheim boosted their target price on Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Citigroup upped their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Morgan Stanley dropped their price target on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating on the stock in a report on Thursday. Wells Fargo & Company upped their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of "Hold" and a consensus price target of $104.27.

Consolidated Edison Stock Up 0.6%

NYSE:ED traded up $0.60 during trading hours on Friday, reaching $104.02. The company's stock had a trading volume of 2,116,035 shares, compared to its average volume of 2,284,749. The company has a market cap of $37.48 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The business's 50-day moving average is $108.33 and its 200-day moving average is $99.98. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same quarter in the prior year, the company posted $2.15 earnings per share. Equities research analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 62.85%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.